Chevron Co. (NYSE:CVX) Shares Sold by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC decreased its position in Chevron Co. (NYSE:CVX) by 22.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,049 shares of the oil and gas company’s stock after selling 4,325 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Chevron were worth $2,216,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FSM Wealth Advisors LLC grew its holdings in shares of Chevron by 1.5% during the third quarter. FSM Wealth Advisors LLC now owns 7,309 shares of the oil and gas company’s stock worth $1,076,000 after buying an additional 108 shares in the last quarter. Moloney Securities Asset Management LLC boosted its position in Chevron by 2.9% during the third quarter. Moloney Securities Asset Management LLC now owns 22,583 shares of the oil and gas company’s stock worth $3,326,000 after acquiring an additional 631 shares during the last quarter. Solitude Financial Services grew its stake in Chevron by 42.0% in the 3rd quarter. Solitude Financial Services now owns 20,165 shares of the oil and gas company’s stock worth $2,970,000 after acquiring an additional 5,968 shares during the period. Catalyst Capital Advisors LLC acquired a new position in Chevron in the 3rd quarter valued at $2,455,000. Finally, Rational Advisors LLC acquired a new stake in shares of Chevron during the third quarter worth $29,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

CVX stock opened at $153.97 on Tuesday. The firm has a market cap of $281.60 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 3.39 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock has a 50-day simple moving average of $147.07 and a 200-day simple moving average of $152.91.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 8.44% and a return on equity of 13.07%. The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same period last year, the business earned $3.08 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Chevron Co. will post 10.7 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.23%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is 71.65%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CVX shares. Scotiabank dropped their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Mizuho dropped their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Bank of America initiated coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Finally, Wells Fargo & Company decreased their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.